CHANDIGARH: Three miscreants kidnapped a businessman in his Mercedes SUV at gunpoint from Sector 9 and released him near Elante Mall after taking a ransom of Rs 3 lakh and fled with his SUV late tonight.

MUMBAI: Aamir Khan''s big release this year - "Thugs of Hindostan" - is nearing completion as the superstar says the last leg of shooting remains, which will be wrapped up in Rajasthan by the end of next month.

LUCKNOW:Prime Minister Narendra Modi today announced a Rs 20,000-crore defence industrial corridor in Bundelkhand region to bring development in one of the most backward regions of Uttar Pradesh.

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Tribune News Service

Lucknow, February 21

Prime Minister Narendra Modi today announced a Rs 20,000-crore defence industrial corridor in Bundelkhand region to bring development in one of the most backward regions of Uttar Pradesh.

“Of one of the two defence industrial corridors mentioned in the Budget, one is proposed in the Bundelkhand region. It will bring an investment of Rs 20,000 crore and generate employment avenues for 2.5 lakh people,” he said after inaugurating the UP Investors Summit 2018 here.

Complimenting the Yogi Adityanath government for giving a push to employment-oriented schemes, the Prime Minister described the UP government’s recently launched “one district, one product” scheme as a potential “game changer” for developing a holistic ecosystem for promotion of traditional handicrafts.

He said linking the vision to various Central schemes such as skill development, Stand-Up and Start-Up India along with Mudra loans will help upgrade traditional local crafts to function as modern MSMEs.

Underlining the need for value addition in every sector in the state, Modi pointed out that despite being top producer in the country in wheat, sugarcane, potato and milk and number two in vegetables and fruits, the state had not seen the kind of prosperity as there had been little value addition.

Launching the ‘Nivesh Mitra Portal’, Modi said instead of ‘red tape’ investors will now get ‘red carpet’.

He also challenged the UP government to compete with the Maharashtra government’s pledge taken at their investment summit two days ago to make it a trillion dollar economy.

“I would like to leave this idea among you. Let me see if you can become the first state to become a trillion dollar economy. You already have the foundation of 50 lakh MSMEs,” the Prime Minister said.

Earlier, Chief Minister Yogi Adityanath said his government was working towards ensuring the basic prerequisites for inviting investments such as ensuring law and order, dedicated power supply, better road connectivity and transport.

He said 1,045 pacts worth Rs 4.28 lakh crore had already been signed on the first day of the summit.

Reliance Industries’ chairman Mukesh Ambani promised an investment of another Rs 10,000 crore through Jio in the next three years. He said the investment will be over and above the Rs 20,000 crore Jio has already invested in the state

Adani Group chief Gautam Adani said they will invest Rs 35,000 crore in the state over the next five years in various sectors

Aditya Birla group chairman Kumar Mangalam Birla promised Rs 25,000-cr investment over the next 5 years

NEW DELHI:The Committee of Creditors has rejected the bid of UK-based Liberty House to acquire Bhushan Power and Steel Ltd, leaving Tata Steel and JSW Steel in the race for taking over the assets of the bankrupt firm, a source said.

SEOUL: A better deal for South Korea’s cryptocurrency industry might be in the offing as the market regulator changes tack from its tough stance on the virtual coin trade, promising instead to help promote blockchain technology.

NEW DELHI/MUMBAI:International rating agencies Moody’s Investor Service and Fitch Ratings today warned the scam-hit Punjab National Bank (PNB) of rating downgrades, citing likely networth erosion and widening losses at the second largest state-run lender.

NEW DELHI:Country’s telecom sector is set to face another tough year ahead as weak average revenue per user (ARPU) outlook, coupled with elevated capex for network and technology will continue to suppress sectoral credit outlook.

NEW DELHI:Bids by ArcelorMittal and a consortium led by Russia’s VTB Group for acquiring debt-laden Essar Steel are said to have been recommended for rejection by the adviser evaluating the offers, sources privy to the development said.

MUMBAI: Following the biggest scam in the country’s banking sector to the tune of Rs 11,340 crore at state-run Punjab National Bank (PNB), Moody’s on Tuesday placed the lender under review for downgrade.

MUMBAI: Stocks staged a comeback in early trade with the BSE Sensex gaining over 157 points and the Nifty recapturing the 10,400-level on buying by investors in metal, capital goods, teck and IT stocks amid a mixed trend at other Asian Markets.

Mumbai: The Mahindra Group on Monday announced a fresh Rs 900-crore investment in electric vehicles (EVs) over the next four years, which should ramp up its first installed capacity to 5,000 units a month.

NEW DELHI:Hit by the Nirav Modi and Mehul Choksi bank scam, PNB today assured the public that it will honour all its "bonafide commitments" under the Letters of Undertaking (LOUs) and Foreign Letters of Credit (FLCs) even as there are indications that the gems and jewellery exposure of banks will come under scrutiny.

MUMBAI:The Modi government will soon come out with a comprehensive strategy to increase the share of global trade to 40% of the GDP, which is expected to touch $5 trillion by 2025, Commerce Minister Suresh Prabhu said today.

NEW DELHI:As N Chandrasekaran, the first non-Parsi Chairman of the Tata Group in its 150-year history, completes his first year in office on February 21, the stage is set for the largest acquisition that the Tata Group has ever made in the form of a Rs 36,000-crore bid by Tata Steel for Bhushan Steel.

MUMBAI: The booming e-retail market is likely to surge over twofold over the next three years, as players will be forced to shift their focus from discounts to consolidation, geographical diversification, business realignment and enhancing customer stickiness, says a report.

Perhaps most important of all, given Le Corbusier's overall intentions in Chandigarh, was the so-called 'Open Hand' hovering on a mast like a gigantic wind vane, although the irreverent observer cannot help thinking of a base-ball glove.